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Onto - Electric Car Subscription

How do we calculate the comparison tables for our subscription price to long term offers?

We frequently scan the market to understand how alternative means of accessing a vehicle and compare that with our subscription prices.

On the basis that our customers are not interested in buying an EV outright, we look at the most traditional offers on the market, leasing and PCP. Given that our subscription is all-inclusive, we need to make some adjustments in order to make a fair 'apples to apples' comparison. In most instances, leases or PCP’s have a separate upfront deposit or a 1st installment that is equivalent to 3, 6 or 9 months of the monthly payments. To make our comparison, we look at the total of the payments made over the life of that lease/PCP and divide that by the duration of the agreement. Typically, 24, 36 or 48 months (that is a long time) and which offer 750 miles per month. So for example, if you have a 2 year (24 months) lease with a £3,000 deposit and £300 per month, then that lease is actually costing you £425 per month.

We then need to factor for all the goodies that are included in our subscription:

  • Fully comprehensive insurance with breakdown cover – We’ve checked with the Association of British Insurers to check what is the average cost in the UK.
  • Free charging – with the ability for our customers to access the BP Pulse, InstaVolt and Shell Recharge networks for free (plus Tesla Supercharges for Tesla’s) as part of the subscription, we’ve made an estimate on the frequency of charge, outside the customers normal charging source. For example: charging a Zoe GT Line 100% of the time on either the BP Pulse or Shell Recharge networks and driving 750 miles (what is included in your subscription) would be the equivalent of £126.75 per month. You will note we only used £66 in our comparison for the Zoe.
  • Maintenance and Servicing – as it is difficult to find other offers that include maintenance and servicing, we have used the leading provider of these estimates in the UK (known as SMR costs) and applied part of these at cost. Typically, this would be sold with a margin applied to these values, but that is not what we have done for the comparison.
  • Fancy extra – this is the additional optional equipment we have ordered on our cars that would not be included (unless stated) in the advertised lease or PCP prices. The best example of this would be metallic paint as that is an extra that can cost anywhere from £600 to over £1,000 depending on the model. We encourage you to make your own comparison as everyone will have their own preference and our comparisons are simply for information purposes. When making your own comparisons, make sure to select the same model, trim and motor as the value can vary significantly. Some electric car models may come with more than one battery size, which of course affects range and price significantly.
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